2018-08-09 00:10:362018-08-09 00:10:36https://quickbooks.intuit.com/in/resources/how-to-start/small-business-term-what-is-soho/How to StartEnglishExplain what SOHO small office, home office means to small indian businesseshttps://quickbooks.intuit.com/in/resources/in_qrc/uploads/2018/08/Small-business-professionals-define-SOHO.jpghttps://quickbooks.intuit.com/in/resources/how-to-start/small-business-term-what-is-soho/Small Business Term: What is SOHO?

Small Business Term: What is SOHO?

SOHO is an acronym that stands for small office home office. SOHO business typically have one to 10 employees, although in many cases, they’re run by just one person working from home. The term helps to differentiate home-based operations from small businesses based in more traditional work settings such as offices, stores, or warehouses.

One example of a SOHO business is a drop-shipping operation, which typically takes one or two people to run and the main requirement is a computer. The owner doesn’t keep products on hand, instead buying individual products from a third-party seller to fulfill orders on a case-by-case basis. No storage facility or office are necessary, and additional employees may only be required if the business expands significantly.

As a small business owners or entrepreneur, you might choose to adopt the SOHO approach for any of several reasons. For starters, commuting from bedroom to kitchen table is certainly easier and more affordable than commuting to the office. Working from home can help promote a healthier work-life balance, which is especially important in India where working long hours is so common.

SOHO businesses may also appeal to those seeking more personal freedom, as you can wear what you want, listen to your favorite music, and generally be more comfortable than traditional professional settings allow. You can also set up your home office exactly as you please, from decorations to equipment.

If you’re working with a limited budget, embracing the small office home office approach is affordable. If you have the space available at home, you can save a lot of money on office rent and upkeep fees by working from your home. If you’re looking for the next phase of your professional career, consider the SOHO approach. You may never want to set foot in a traditional office again.

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.